the gold market rose to its all-time six-week high – something investors and financial advisors cannot say for the rest of the world’s economy. Posted by James Randolph on November 07, 2011
Gold Market Continues to Rise, Even When Other Markets Fall
As of November 7, 2011, the gold market rose to its all-time six-week high – something investors and financial advisors cannot say for the rest of the world’s economy. Europe, for example, has a rising debt that continues to rise, even though the gold market appears unaffected by this economical state.
The gold market has jumped to a record high of $1923.70 per ounce, which in turn raised the demand for gold in comparison to equities and other currencies. Italian Prime Minister Berlusconi’s, for example, has been pressured by his allies to push the nation’s borrowing debt to the highest it has ever been.
Though other countries are borrowing against their dollar in order to satisfy their country’s debt, the gold market appears to hold steady – in fact appears as though it is going to start rising yet again. What are some of the indicators of this rise? In December, the gold market gains 1.5 percent, which totaled $1781.70 on the Comex in New York. As of November, that has gained 24 percent for the year. In 1989, gold futures were valued at $363, as of October 2011, those same gold futures were valued at $1651.70 – more growth than any stock share can stake claim to.
Investors looking at gold coins are turning a better investment in the gold market than those just interested in gold shares. Gold coins, especially rarities, are not only an investment in the gold market, but a collector’s item. As of today, gold investors have three options to enter the gold market: gold shares, gold coins and gold bars. The easiest to liquidate, however, are gold coins.
Overall, the gold market continues to prove its financial stability even while other countries and markets cannot bear the load of economic distress. Investors looking for a stable investment in today’s economical conditions might find better luck in the gold market – rather than traditional investment methods.
Senior Staff Writer – Certified Gold Exchange